120 S Clarence Street, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$968,000
120 S Clarence Street, Los Angeles, California 90033
0Bed
0Bath
2,316Sqft
5,248Lot
Year Built
1923
Close
-
List price
$968K
Original List price
$968K
Price/Sqft
$418
HOA
-
Days on market
-
Sold On
-
MLS number
WS24150335
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $968.0K(67th), sqft - 2316(60th), beds - undefined(50th), baths - undefined(50th).
Great location. Total 4 Units - two separate duplex. Front duplex 2 BR 2 BA. Rear duplex 4BR 2BA. Short walking distance to Metro Gold Line station and park. Across the street from new homes. Minutes from the Arts District and Little Tokyo, Convenient access to the 101, 10, and 5 freeways. Laminated wood or tile floor. Rear units have Ductless Mini Split Air Conditioner. 4 on-site parking spaces. One 2-bedroom back unit is vacant and freshly painted. Ready for the owner to occupy. Living in one unit and collecting rent to pay for the expenses. LARD3 zoning.
Price History
Date
Event
Price
09/07/11
Sold
$265,000
07/20/05
Sold
$340,000
10/17/01
Sold
$20,000
Condition Rating
Poor
Built in 1923, this property is over 100 years old. While some units have received fresh paint and laminate flooring, the kitchens and bathrooms are significantly outdated, featuring old appliances, laminate countertops, and basic fixtures that appear to be from renovations 30-50+ years ago. Major systems like plumbing and electrical are likely original or very old, requiring substantial rehabilitation. Cooling is inconsistent, with only rear units having modern mini-split AC, indicating a lack of comprehensive climate control. The property requires substantial repairs and rehabilitation to meet current standards.
Pros & Cons
Pros
Strong Income Potential: As a quadruplex (two separate duplexes) with a diverse unit mix (2BR/2BA and 4BR/2BA), this property offers significant rental income generation opportunities for investors or owner-occupants.
Exceptional Urban Connectivity: Strategically located within short walking distance to the Metro Gold Line and a park, and minutes from cultural hubs like the Arts District and Little Tokyo, with convenient access to major freeways (101, 10, 5).
Owner-Occupant Advantage: The availability of a vacant, freshly painted 2-bedroom unit allows for immediate owner-occupancy, providing a unique opportunity to live on-site while offsetting mortgage costs with rental income.
Valuable On-Site Parking: The provision of 4 dedicated on-site parking spaces is a considerable asset in a densely populated urban area like Los Angeles, enhancing tenant appeal and property value.
Favorable Zoning & Neighborhood Growth: Zoned LARD3, indicating potential for density, and situated across from new homes, suggesting an area undergoing revitalization and potential for future appreciation.
Cons
Advanced Age of Property: Built in 1923, the property is over a century old, which typically implies a higher likelihood of deferred maintenance, outdated infrastructure (plumbing, electrical), and potential for significant capital expenditures.
Inconsistent Cooling Systems: Only the rear units are equipped with Ductless Mini Split Air Conditioners, leaving the front units potentially without modern cooling, which could be a drawback for tenant comfort and marketability in Los Angeles' climate.
Potential for Varied Unit Conditions: While one unit is noted as freshly painted, the overall condition of the other three units is not specified, suggesting potential for varying levels of updates or necessary renovations to meet current market expectations.